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The Macroeconomic Effects of Infrequent Information with Adjustment Costs
(Université de Montréal. Département de sciences économiques., 1997)
In the last decade, the potential macroeconomic effects of intermittent large adjustments in microeconomic decision variables such as prices, investment, consumption of durables or employment – a behavior which may be ...
Tests of Conditional Asset Pricing Models in the Brazilian Stock Market
(Université de Montréal. Département de sciences économiques., 1997)
In this paper, we test a version of the conditional CAPM with respect to a local market portfolio, proxied by the Brazilian stock index during the 1976-1992 period. We also test a conditional APT model by using the difference ...